CVB Financial Corporation Stock Forecast

Weaker technical forecast for CVB Financial Corporation as stock downgraded to Hold/Accumulate.
(Updated on May 07, 2024)

CVBF Signals & Forecast

The CVB Financial Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $16.87 and $16.78. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -0.637%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Wednesday, May 01, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for CVB Financial Corporation stock

CVB Financial Corporation finds support from accumulated volume at $16.76 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.270 between high and low, or 1.57%. For the last week, the stock has had daily average volatility of 1.83%.

Our recommended stop-loss: $16.50 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (CVBF) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect CVB Financial Corporation to open at $17.24, and during the day (based on 14 day Average True Range), to move between $16.69 and $17.63, which gives a possible trading interval of +/-$0.470 (+/-2.74%) up or down from last closing price. If CVB Financial Corporation takes out the full calculated possible swing range there will be an estimated 5.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $16.76 (2.33%) than the resistance at $17.70 (3.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is CVB Financial Corporation stock A Buy?

CVB Financial Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.005 Hold/Accumulate Downgraded

Predicted Opening Price for CVB Financial Corporation of Wednesday, May 8, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.